World Liberty Financial burns 6.92 million WLFI tokens…reduces market circulating supply
Suehyeon Lee
Summary
- World Liberty Financial said it burned 6.92 million WLFI tokens.
- It said the burn was carried out by combining WLFI generated as protocol fees and WLFI purchased on the open market.
- The burned WLFI were permanently removed from circulation, and this was said to attract investor interest as a reduction in market circulating supply.
On the 27th (local time), World Liberty Financial said on X, "It burned 3,109,320.66 WLFI generated as protocol fees on Ethereum (ETH) and Binance Smart Chain (BSC)."
It added, "It also bought a total of 3,814,095 WLFI on the open market with USD1, USDC, and Tether (USDT) and burned them additionally." This brings the amount burned this time to about 6.92 million WLFI, all permanently removed from circulation.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin slips below $75,000…Ethereum also falls under $2,200](https://media.bloomingbit.io/PROD/news/eaf0aaad-fee0-4635-9b67-5b598bf948cd.webp?w=250)
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